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HOCHTIEF is an engineering-led global infrastructure solutions provider with leading positions in North America, Australia and Europe and a rapidly expanding presence in high-tech, energy transition and sustainable infrastructure markets.
About HOCHTIEF
HOCHTIEF Group is a global, integrated, and diverse organisation that develops, invests in, designs, constructs, and operates projects in advanced technology, energy transition, sustainable mobility, critical minerals, natural resources, social infrastructure, and large-scale civil engineering.

Essen, 18. July 2011

HOCHTIEF sells 208 rental apartments in Hanover for over EUR 60 million

Residential developer formart sells construction projects "Loft as you like" and "Mosaik Eilenriede" off-plan

HOCHTIEF Solutions formart has sold 208 rental apartments for more than EUR 60 million. An institutional investor acquired 37 rental units at the "Loft as you like" residential project off-plan. The same investor also purchased eight houses (with a total of 72 rental apartments) in the future "Mosaik Eilenriede" residential development. Eight buildings from this residential project (with 90 rental apartments) were sold to a fund owned by AXA Investment Managers Deutschland. Two private investors each acquired one building (with a total of nine residential units) at Mosaik Eilenriede. Construction work will start on the residential developments in summer 2011.

The Mosaik Eilenriede project foresees the construction of 18 townhouses with 171 residential units and four underground parking garages in Hanover’s Zoo district. The groundwork is currently underway at the approximately 16,300 square meter site. The buildings are scheduled for completion at the beginning of 2014.

For the "Loft as you like" project, being created on a 2,300-square-meter site in Calenberger Neustadt, 37 rental apartments and an underground parking garage will be constructed. The existing building will be demolished after July 2011 and a loft-style house completed by the end of 2012.

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